The Opposition New Patriotic Party has expressed fears over government‘s ability to meet next years projection to produce oil in commercial quantities.

Energy Minister Dr. Oteng Adjei in an answer to a question on the floor of Parliament on Tuesday assured that government was well on target to meet the last quarter of 2010 dead line set for Ghana to receive it first drop of oil in commercial quantities.

The minister said fruitful negotiations have been conducted with all stakeholders, adding, every thing is well within schedule.

But the opposition is not convinced with the explanation. They cite the slow pace of negotiations as well as challenges with storage facilities as a dampener to the hopes of producing oil in commercial quantities next year.

MP for Effia Kwesimimtim, Joe Baidoo-Ansah, who early on posed the question to the minister on the floor of Parliament, told Joy News, the minister is not on top of the issues.

The minority among other things asked “How many barrels have been targeted for the first quarter and the revenue to be accrued,” but the Energy Minister for the sake of accuracy requested that he be allowed to go back and cross check his facts.

The Minister was also not sure when the Plan of Development (POD), the reason for the production would be signed between the government of Ghana and the oil exploration companies.

This Joe Badu Ansah believes does not augur well for country’s hopes of ripping oil revenue next year.

Meanwhile, an official of Tullow oil, one of the oil exploration companies has dismissed claims that logistical challenges could derail Ghana’s hope of producing oil next year.

Tony Djokoto said the POD is a closed out issue with only the unitisation agreement left to be negotiated.

He does not expect any impediment, especially not in relation to logistics, to prevent Ghana from meeting its 2010 deadline.

Source:
Myjoyonline.com